Page 4 Advertisements Column 2

Auckland Star, Volume IV, Issue 988, 19 March 1873, Page 4

Miscellaneous. "XTOTICE is hereby given that if a stifflcient number of applications from Candidates for Examination ia made before the 20th inst. the Examiners will attend in Auckland on or about the 27th inst. to hold an Examination for Masters and Mates' Certificates. Forms of application, and full particulars, may be obtained at the Custom House. W. SEED, Seoretavy of Customs (Marine Branch). Wellington, 12th March, 1873. BOAED AND RESIDENCE for two or three Gentlemen, or a Lady and Gentleman, in a private family.—Apply to Mrs W. Arthur, Upper Queen-street. PERSONAL. THE Mr Thomas Adams who sold some Land on the Great Barrier Island in August. 1807, will much oblige by oalling at the office of Messrs Samuel Cochrane & Son, Auctioneers, Fort street. TAX.INS & WILLCOX HAVE ON SALE, Ex Hero, Tab an art, and Natal Queen, 200 sacks Maiae 260 „ Oats (potatoe) 100 „ Wheat (for Fowls) 135 ~ Bran 100 ~ Sharps 20 oases Port Cooper Cheese 13 „ Bacon and Hams (McConnell's) 20 kegs Butter. JAKINS &~~WILLCOX, Durham stee ct.

PEOSPECTTJS OF THE AUCKLAND IRON AND STEEL COMPANY (Limited). To be Incorporated under the Joint Stock Companies Aot, 1880. CAPITAL—£IOO,OOO, in 100,000 Shap.es op £1 each. Provisional Directobs : John Henderson, C.E. (Engineer for Messrs Brogden and Son), Wellington Thomas T. Masefteld (Masefield and Co., Engineers), Auckland William Lodder, Engineer, Auckland F. M. P. Brookfield, Auckland Robert J. Creighton, Auckland. Solicitors : Messrs Whitaker and Russell. Bankers : Bank of New Zealand. Secretary : John Mowbray. The object of this Company is to utilize the Iron Stone and Iron Sand which abound in this Province, by converting them into cast iron and malleable steel iron, by the process of manufacture successfully tried at Onehunga by the original promoters of the Company. Samples of their iron have been submitted to the severest tests by practical mechanics, and invariably pronounced to be equal ir. grain and toughness to the best Lowmoor and Swedish iron. It is proposed to raise sufficient capital for the purchase of machinery, and for the erection of the necessary plant and buildings, at a site to be determined as being most convenient for obtaining a supply of the Iron Sand, Iron Ore, and Coal. A careful estimate has been made of the cost of a plant suited for the purpose of manufacturing Pig Iron, and Merchants.Bar Iron, together with land and buildings: and the amount is £15,000. The whole of the machinery can be supplied in Auckland. This would include :— 1 High-pressure Steam Engine, 100-horse power nominal 1 Hot-blast Furnace, complete; c Puddling Furnances 2 Mill Furnaces ; 1 Rolling Mill, 10-inch train 1 Steam Hammer ; 3 Coke Ovens 2 Pair Shears ; 1 Straightening Press Land, Buildings, Freight, Commissions, and Contingent Expenditure. The Plant, as enumerated, would be sufficient as a beginning, and would admit of extension at any time. The following is an estimate of the weekly production of finished Bar Iron, leaving out of calcxilation altogether the yield of Pig Iron from the Blast Furnace—an estimate founded upon experience • - Five Puddling Furnaces, working five days per week (one day idle for fettling, &c), and 1 spare Furnace, 50 tons. Return in cash, at £16 per ton, £800. Wages per week—Puddling per ton, including helper. 255, £C 2 10s ; Shinglers, ditto ditto, £12 10s ; Rollers, ditto ditto, 4s, £10 ; Engineers, £12 ; Stokers, £4— £16 ; two Forge Labourers, £4 ; 75 tons Coal, £150 ; Raw Material, at per ton, 4 s, £100 ; Management, Contingencies, Oilice Rent, ooar and Tear, &c, £100. Total, £455— 0r, Dr. 50 tons Merchant Bar Iron, per week, at £16 per ton £800 0 0 Cr. Wages, Management, Interest, Coal, Raw Material, &c 455 0 0

Showing a weekly profit of .. 345 0 0 Or, £17,940 per annum. It will be seen that no account is taken of the profits from the iron produced by the Blast Furnace which it is proposed to erect, capable of making ten tons of pig iron daily. This item, however, will add considerably to the profits of the undertaking. The raw material is estimated in excess of what it is likely to cost; and, with regard to coal, which is estimated to cost £2 per ton, it has been ascertained that Buller River Coal, Waikato, and Bay of Islands Coal could be delivered at the works at £110s per ton, with certainty. But a most valuable seam of coal having been discovered close by the site of the proposed works, the saving on that item will necessarily be' very great. The Promoters have secured the right to use all Iron Sand and Iron Stone within the Manakau Harbour, the property of the Crown, free of royalty. There is an unlimited supply of Iron Sand and Haematite Iron Ore, as well within as without the Manakau Heads; and the Provincial Government have by letter expressed their readiness to lease in terms of the Public Reserves Act any portion of the West Coast line under Provincial control which the Promoters of the Company may require in the prosecution of their enterprise. Th<j price of Bar Iron is estimated above at £16 per ton, the lowest price at which it has ever been sold for in Auckland being from £14 to £16 per ton. The current rate is £20 per ton cash; £22 per ton at three months; and the general tendency is upwards. The cost of producing Merchant Bar Iron is, after making the most liberal allowance for expenses of all kinds, £10 per ton. Taking the iron as selling on the spot for £16 per ton., a large and certain return is assured. The demand for Iron is daily increasing owing to the extension of railways, mining, shipbuilding, and other branches of manufacturing industry. The certainty of finding a market for all that can be produced need not therefore be doubted. As a legitimate investment for" capital, Shares in the Auckland Iron and Steel Company, Limited, are without a rival. It is altogether free from the speculative uncertainty of goldmining. The supply of the raw material of manufacture being on the surface, renders it less costly to procure that any other mineral deposit, while the demand for the manufactured article is, practically, without a limit. 50,000 Shares of the proposed Jcapital of the Company are offered to the public.,^.2s.'6d. per Share deposit to be paid on application ; 2s Gd. per Share on allotment; and ss. per Share^vithin six months from allotment, in calls not exceeding 2s. Cd. The remaining 10s. is to be called up (if required) in calls not exceeding 2s. 6d. eachj at periods of not less than two months. It is proposed to pay to the Promoters, as soon as he Co mpany is in a position to erect machinery, the ?sum of £2,000 in cash, and on allotment 8,000 fully paid-up Shares ; the remaining 42,000 Shares to be held in trust for the Company. The Promoters bind themselves not to place their Shares on the market until the plant is in working order ; and engage to assist in carrying on the works after the start, at a salary to be agreed upon with the Directors, and to convey to the Company for its use their rights and privileges in a Patent for the working of Iron Sand and Iron Ore. applied for by them. On one-fourth of the required capital being subscribed, a General Meeting of the Shareholders will be convened to elect a Board of Directors and pass Rules for the management of the Company, and also to make arrangements for the vigorous prosecution of the works. The Provisional Board of Directors is principally composed of practical men, who, having satisfied themselves, give ttieir services to further this national undertaking. - • Applications for Shares made to the Company's Secretary, Mr. John Mowbray, No. 44, Queen-street, Auckland, up to the 14th day of March, 1873, will be numbered as received, and Shares allotted on approval by the Directors, immediately after tho jreceipt of Southern applications. Auckland, February 3,1873.